EURUSD Dec 10 to Dec 14 Outlook

By News Robot

Lawrence’s Comment

Recap
Rallied to Y+2. As if hitting a brick wall, euro made a hard turn and dropped back to Y+1 and then broken down to retest Y-1. Closed the week below Y-0 and midpoint.

Outlook
More problems from euro zone. As long as B-0 / Y+1 is acting as resistance, this will send euro back down to B-2 and probably lower.

However, this is a pullback in terms of the daily uptrend just established last 2 weeks. Until we get more evidence that euro has failed to go higher, like a weekly reversal, will be careful with short.

This week almost produced a weekly reversal should euro closed below Y-1.

For now, holiday mode, light volume, and erratic moves til 1st week in Jan is over.

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